Educational Improvement Tax Credit Program (EITC)

An explanation of how this program works

A few years back, the State of Pennsylvania passed legislation that allows business owners to substitute certain tax payments and re-direct these payments to private schools (like North) for scholarships.  As a business owner, all that is required is some paperwork and some effort.  Financially, it does not cost a cent, what it is simply, is a redirection of your tax payment.
 
Who Can Apply:Businesses authorized to do business in the Commonwealth of PA and are subject to the following taxes:
  •         Corporate Net Income Tax
  •         Capital Stock Franchise Tax
  •         Bank and Trust Company Shares Tax
  •         Title Insurance Companies Shares Tax
  •         Insurance Premiums Tax
  •         Mutual Thrift Institutions Tax
  •         Personal Income Tax of S Corp. Shareholders, or Partners in a general or limited partnership.
Amounts:  Businesses will be approved for a tax credit equal to 75% of its contribution(s) up to a maximum of $300,000 per taxable year.  The tax credit may be increased to 90% of the contribution(s) if the business agrees to provide the same amount of contribution for two consecutive years.
 
After State Approval, What's Next:
Once a business has been approved and has received its notification, the business must make its contribution to a listed Scholarship Organization within 60 days from the date of the notification.  In the case of North Catholic, the Joey Casey Foundation is a recommeded and State approved scholarship organization.  Please contact as follows:
                    The Joey Casey Foundation
                    c/o Tom Crossett, Vice President
                    484-751-9534 (office)    
                    215-266-0640 (cell)
                    215-860-6575 (home)
                    tcrosset@comcast.net
                    www.joeycaseyfoundation.com
 
Example:
ABC, a Sub S organization has personal tax due in the amount of $1,000.  Here are the steps:
  1. Submit Application for EITC tax credits to Dept. of Community & Economic Development (DCED).  You can submit by fax (717)772-3581 or by email at tknorr@state.pa.us or by mail DCED/EITC 400 North Street, 4th Floor, Commonwealth Keystone Bldg., Harrisburg, PA 17120-0225.
  2. Receive notification from DCED and approval
  3. If two year commitment, send $900 check to The Joey Casey Foundation/8120 Cresco Avenue/Phila.,PA/19136 ($750 for one year commitment)
  4. Send check to Dept. of Revenue for tax due ($1000-900 or $100 for two year commitment)
  5. Receive proof of contribution from The Joey Casey Foundation. DCED then notifies the Dept. of Revenue of the credit
  6. Additionally, organization might be able to use contribution as a charitable contribution for federal tax purposes.
Once The Joey Casey Foundation receives the check, it will send this amount to the school notifying them of the contribution and from whom it was contributed.